Unions Oppose Executive Incentive Plan At Usair

[FM2436]

The Association of Flight Attendants has agreed not to object to the overall plan, in return for improvements in sick leave, sick-call penalties and the profit-sharing plan, said Teddy Xidas, president of the Pittsburgh local and national US Airways' flight attendants' union.

Bravo to the AFA for thinking about their members instead of only who else gets or does not get anything.

[post="300962"][/post]​

Apparently, unions have dropped their objections.

http://biz.yahoo.com/ap/050915/us_airways_...uptcy.html?.v=4

 

[noname]

Apparently, unions have dropped their objections.

http://biz.yahoo.com/ap/050915/us_airways_...uptcy.html?.v=4

[post="301125"][/post]​

I don't see that the unions have dropped their objections to the retention plan:
"A hearing Thursday in U.S. Bankruptcy Court was also expected to address another sticking point: a retention plan for senior management." (Second sentence in the article)

 

[700UW]

The Unions have NOT dropped the objection to the bonuses.

Also on Thursday, the airline resolved two other union objections to its reorganization plan. The unions agreed to accept a reduced profit-sharing plan to accommodate outside investors, and unions withdrew their demand for representation on the new airline's board of directors, accepting instead positions on a special labor committee that will meet frequently with the board.

 

[Schatzee]

Is that like the people in NOLA who were seen stealing TVs and walking through waist deep water?

[post="301034"][/post]​

You know I think it is worse than the tv looting people in New Orleans.....
At least they were a one time event, CCY is the group that keeps taking and taking and taking.........

 

[Schatzee]

Here is some more good reading from Donlinrecano. In their own words, Bruce Lakefield, John Luth and Ronald Greenspan tell us why they think the Judge should just say yes:


Bruce: http://www.donlinrecano.net/dr201/mwc/04-1...003176-0000.pdf

John: http://www.donlinrecano.net/dr201/mwc/04-1...003177-0000.pdf

Ronald: http://www.donlinrecano.net/dr201/mwc/04-1...003178-0000.pdf

 

[Zeus]

Bruce makes an excellent argument. I expect to see a positive ruling today. These executives deserve this severance payment.


"From the beginning of these Chapter 11 cases, I have managed to keep the senior management team intact on the promise that, at the time of completion of the job, if their employment terminated, the Board and I would do whatever we could to ensure that they would receive a market-level severance payment. I trusted in the fairness of the legal process to assure that, if there was a successful outcome to the case, senior management would receive a severance package that would be similar to what would be available in the marketplace anywhere under comparable facts and circumstances if the results of their efforts was the loss of their jobs."

 

[700UW]

do you need the money that bad?

They deserve to pay their salaries back to the employees

 

[longing4piedmont]

Bruce makes an excellent argument. I expect to see a positive ruling today. These executives deserve this severance payment.

[post="301502"][/post]​

I think I'm going to throw up..... You deserve to be thrown out the door on your arse. No one one within the industry wants you. Not even ASA. You can't even get a job given your business acumen and your track record here.

Oh wait, is that the infamous zipper dipper calling from India?

What arrogance!

 

[PITMTC]

We also negotiated 270 days medical at active rate for all medical leaves. Side letter on the ALPA DH dispute would have cost us $7.5 milion, we had that removed. Modified restrictions on term pass usage for folks who are disabled Vs. total restriction of 2 passes while on medical leave.

However, we reserved the right to object to the Transition retention/severance program of $12million for 23 execs. WE submtted the brief this morning to maintain that objection.

[post="301046"][/post]​

Like I said in my post. Bravo to your union for getting some things for your members. Today the POR will be approved, with or without the retention/severance program, but at least your union negotiated some things back. They didn't just use the valuable time to worry and argue about who else gets this or that. Good work.

 

[PITbull]

Thanks. That was our point too.

We new the judge would ultimately approve, so we took advantage of the moment and did not object to the POR and prevented a delay, which was worth some give backs from the co.

 

[MrAeroMan]

Bruce makes an excellent argument. I expect to see a positive ruling today. These executives deserve this severance payment.
"From the beginning of these Chapter 11 cases, I have managed to keep the senior management team intact on the promise that, at the time of completion of the job, if their employment terminated, the Board and I would do whatever we could to ensure that they would receive a market-level severance payment. I trusted in the fairness of the legal process to assure that, if there was a successful outcome to the case, senior management would receive a severance package that would be similar to what would be available in the marketplace anywhere under comparable facts and circumstances if the results of their efforts was the loss of their jobs."

[post="301502"][/post]​

Brucie is just a member of the Golden Spoon Club that all execs belong to. You got your positive ruling so I hope you choke on all that cash you've got coming to you. How does it feel to take something that you never earned? That's called stealing and you'll have to answer to that in a much higher court than the court on this board or the court of public opinion. On that day let's see where that big bonus will get you. Better you than me Sparky.

 

[longing4piedmont]

Looks like we lost.....

CBS News

The judge's approval came after he ruled on the last remaining objections to the airline's plan of reorganization. Most significantly, the airline's unions had objected to an executive severance package that would provide $12 million in pay to 11 top executives who will not be given jobs with the merged airline.

Mitchell approved the severance package, saying it was in line with executive contracts in the airline industy.

Not that it makes any difference now but five or six of us as customers were trying to get a brief filed against the bonus plan. We were unsuccessful in getting the brief filed. For that I'm sorry, but in the end I don't think it would have made any difference.

 

[a320av8r]

Thank God that this nightmare is over!
Let's move on with our new compatriots at Cactus and make this thing work for us.
The CCY folks will be gone very soon and we'll still be here.

Forget them and move forward.

h34r:

 

[MarkMyWords]

L4PI -

Don't look at the severence to the exec's as a loss. I applaude the unions for tryin gto stand up to the executives that continue to try and jump ship with as much green as they can carry. They fought a great fight and should commended for taking a stand versus rolling over and allowing them to leave with what ever they want.

Now let's put that behind us and move ahead. On to bigger and better things.

 

[openview]

Thank God that this nightmare is over!
Let's move on with our new compatriots at Cactus and make this thing work for us.
The CCY folks will be gone very soon and we'll still be here.

But what will we all talk about!

I guess usaviation will cease to exist without CCY in the airline biz..